Aperio Group LLC Grows Holdings in Michaels Companies Inc (MIK)

Aperio Group LLC raised its position in Michaels Companies Inc (NASDAQ:MIK) by 208.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 198,252 shares of the specialty retailer’s stock after acquiring an additional 133,989 shares during the period. Aperio Group LLC owned about 0.11% of Michaels Companies worth $4,796,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans lifted its stake in Michaels Companies by 5.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 21,120 shares of the specialty retailer’s stock valued at $391,000 after acquiring an additional 1,080 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Michaels Companies by 40.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,792 shares of the specialty retailer’s stock valued at $188,000 after acquiring an additional 2,236 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Michaels Companies by 54.6% in the 3rd quarter. Pinebridge Investments L.P. now owns 10,360 shares of the specialty retailer’s stock valued at $222,000 after acquiring an additional 3,660 shares in the last quarter. Comerica Bank lifted its stake in Michaels Companies by 4.6% in the 3rd quarter. Comerica Bank now owns 87,378 shares of the specialty retailer’s stock valued at $1,704,000 after acquiring an additional 3,820 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Michaels Companies by 6.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 92,455 shares of the specialty retailer’s stock valued at $1,985,000 after acquiring an additional 5,323 shares in the last quarter.

Michaels Companies Inc (NASDAQ MIK) opened at $25.24 on Friday. The firm has a market capitalization of $4,570.00, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99. Michaels Companies Inc has a 1 year low of $17.25 and a 1 year high of $27.87. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. sell-side analysts forecast that Michaels Companies Inc will post 2.18 earnings per share for the current fiscal year.

Several equities research analysts have commented on MIK shares. Goldman Sachs Group upgraded Michaels Companies from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. ValuEngine cut Michaels Companies from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Deutsche Bank cut Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Tuesday, December 12th. Finally, BidaskClub upgraded Michaels Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Michaels Companies currently has a consensus rating of “Buy” and an average target price of $26.00.

In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $27.15, for a total transaction of $5,998,249.50. Following the transaction, the chief executive officer now owns 444,796 shares of the company’s stock, valued at approximately $12,076,211.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: “Aperio Group LLC Grows Holdings in Michaels Companies Inc (MIK)” was first reported by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://weekherald.com/2018/02/16/aperio-group-llc-grows-holdings-in-michaels-companies-inc-mik.html.

Michaels Companies Company Profile

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

Want to see what other hedge funds are holding MIK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michaels Companies Inc (NASDAQ:MIK).

Institutional Ownership by Quarter for Michaels Companies (NASDAQ:MIK)

Receive News & Ratings for Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply